|Filed Under:||Business & Finance / Economics|
|Posts on Regator:||2216|
|Posts / Week:||7.7|
|Archived Since:||June 7, 2008|
Congratulations to the Harvard Fed Challenge Team, which recently won the national title. Here is a picture of the team, together with a soon-to-be-unemployed Harvard alum.
From David Neumark: Suggesting that federal policy addressing low-wage work and low-income families has somehow failed because the minimum wage has not kept pace with inflation ignores the fact that we have moved away from a focus on the minimum wage — a policy with many flaws — and toward the earned-income tax credit. Show More Summary
For the holiday party for ec 10 section leaders, head section leader David Johnson prepared the following "quiz," which he has allowed me to share with blog readers. The quiz is open book, open internet. The winning team got 18 out of 20. Show More Summary
On New England frugality: Bostonians still tell the story of the respectable society matron who was crossing the Common one day and ran into an old college chum she hadn’t seen for years. The matron was dismayed to see that her friend was obviously engaged in the world’s oldest profession. Show More Summary
Source: CBO. Click on graphic to enlarge.
In his speech yesterday, President Obama said, Now, we all know the arguments that have been used against a higher minimum wage. Some say it actually hurts low-wage workers -- businesses will be less likely to hire them. But there’s no solid evidence that a higher minimum wage costs jobs. Show More Summary
In his Times column today, Paul Krugman argues in favor of a higher minimum wage, suggesting that the adverse employment effects are trivial. Unfortunately, Paul presents a highly selective review of the literature. For example, this paper is relevant. Show More Summary
I see that the pope has decided to weigh in on economic issues: “Some people continue to defend trickle-down theories which assume that economic growth, encouraged by a free market, will inevitably succeed in bringing about greater justice and inclusiveness in the world,” Francis wrote in the papal statement. Show More Summary
The case for "yes." The case for "no."
Click here to read my column in Sunday's NY Times.
Students often ask me what George W. Bush is like as a person. This story from Dana Perino gives a great sense of what I saw and experienced as well.
I recently had the pleasure of attending the IMF Annual Research conference (where I was a discussant of a paper by Reifschneider, Wascher, and Wilcox in Session 3). You can watch the conference online here.
Click here to read my review, coming out in Sunday's NY Times Book Review, of Alan Greenspan's new book.
From a new CBO report. Click on graphic to enlarge.
How long will it take to fix the health exchange website? I have no idea. But thinking about this issue reminded me of a time when I was a grad student, and Larry Summers was an assistant professor. Larry told me that his research assistants always vastly underestimated how long any task would take. Show More Summary
A large part of the motivation of the Affordable Care Act is to provide insurance to those with pre-existing conditions. Under the law, insurance is offered to everyone at a price based on overall community risk, not the risk estimated by the insurance company based on a person's particular characteristics. Show More Summary
Via the Washington Post, here is a 2010 memo that my Harvard colleague David Cutler wrote to Larry Summers about the implementation of the Affordable Care Act. Its subject line is "Urgent Need for Changes in Health Reform Implementation."David...Show More Summary
In today's NY Times.
Marty worries about a great unraveling.
President Obama is getting heat over his often repeated claim that, under his healthcare reform, "If you like your plan, you can keep it." It is clear now that for millions of Americans, particularly those who participated in the individual insurance market, that is simply not true. Show More Summary